SPRINGFIELD, Ill. – Comptroller Susana Mendoza says bond rating agencies take notice when Illinois puts more money toward its Rainy Day and Pension Stabilization Funds.
Moody’s Analytics on Tuesday changed its outlook on Illinois bonds from “stable” to “positive”, citing continued improvement in fund balances and reserves, helping to shore up the state’s financial health.
“I thank the General Assembly and Governor Pritzker for keeping their focus on responsible budgeting, and I urge legislators to support my Rainy Day bill, HB2551, which would require the state going forward to make regular deposits into the Rainy Day and Pension Stabilization funds,” Mendoza says.
Illinois has had nine consecutive credit upgrades. Mendoza says better ratings from agencies like Moody’s mean lower costs for Illinois taxpayers on infrastructure projects like roads and bridges.
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